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PLEASE HELP PREPARE JOURNAL STATEMENTS Jan. 2 Paid Larchmont Advertising Agency $1,363 for designing advertisements to appear in local newspapers in January Jan. 2 Paid
PLEASE HELP PREPARE JOURNAL STATEMENTS
Jan. 2 Paid Larchmont Advertising Agency $1,363 for designing advertisements to appear in local newspapers in January Jan. 2 Paid Princely Properties S4,250 for the January rent. Of this amount, 30% is for the office facilities and 70% is for the factory facilities. Jan. 4 Received $30,200.00 on account from customers (no discount allowed) Jan. 5 Sold Job #349, which was finished in December 2019 at a total cost of $39,800, to Happy Jacks Preschool Received a check from Lawson Corporation for the amount due. Payment was received within the discount period. (Balance due: $9,420.00) Jan. 9 Paid Nogood Wood Products $8,562.40 in payment of their January 1 balance. Collected the amount due from Happy Jacks Preschool for the sale on Jan. 5. Jan. 12 Jan. 13 Paid Sorenson Plastics Company $12,925.00 in payment on account. Applied $3,860.00 of direct materials to Job #351 Jan. 15 Jan. 15 Jan. 15 Applied $10,380.00 of direct labor to Job #351 Applied factory overhead to Job #351. Jan. 15 Transferred the completed job #351 to Finished Goods. Jan. 16 Received $35,250.00 on account from customers (no discount allowed)Step by Step Solution
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